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Jessie Eide's Blog

By Jessie Eide | Agent in Claremont, CA
  • The Basics of Making an Offer on a Home

    Posted Under: Home Buying in Claremont, How To... in Claremont, Moving in Claremont  |  October 1, 2013 1:28 PM  |  251 views  |  No comments

    The California Residential Purchase Contract – Page 1

    Purchasing a home can be a very overwhelming task. First you have to find a Realtor you trust and then pre-qualify with a lender to see how much you can afford. After that, you have to pick a neighborhood you want to live that fits the price tag, and then it’s time to search for that perfect home. When you find that home you have been looking for, that is when the fun begins. All of sudden you are signing paperwork and sometimes nobody has taken the time to explain what it is you are signing.

    The California Residential Purchase Contract (RPA) by the California Association of Realtors (C.A.R.) is the most widely used contract in our area to purchase a home. It is an eight page contract with a lot of information on it. Let’s go over page 1. Page 1 is the “money” page making it one of the most important pages in the whole contract.

    The contract is separated by paragraphs that are numbered and most of the paragraphs have sub paragraphs that are indicated by letters.  You will notice that there is a place for a date in the top right hand corner. This is very important to fill in because the offer goes void after so many days and following contracts during escrow can be based off of this date too.

    Paragraph 1 is very straight forward. 1A names the person/people the offer is from AKA the buyers. 1B names the property with the address and parcel number. 1C shows how much money the offer is for and 1D dictates how long the buyer thinks it will take to close escrow, usually 30 days.

    Paragraph 2 is all about agency. What is agency?  Agency is the function of the agent. More often than not there will be two agents in the transaction. One represents the buyer and one represents the seller. This will go into more detail C.A.R. form AD which should be attached to the eight page RPA. This is the purpose of 2A, to inform the seller and buyer that there should be another form attached to the offer that discloses agency. 2B advises both buyer and seller that the agent named in this agreement may also be representing another offer for this particular property or another home for sale in the competing market. This happens often when there is low inventory in a particular area. 2C names each brokerage that will be working in the transaction if the offer is accepted. Sometimes it is the same agency.  It is important to pay attention to the boxes checked in this section. On occasion, the same brokerage will be named for both buyer and seller, even though there are different agents working in the same office representing either side. This is still considered a dual agency and “both buyer and seller” box should be checked.

    Paragraph 3 is all about the money. This is why it is important to pre-qualify with a lender before searching for houses. When you find a home you love, usually you want to put an offer on it right away, especially in today’s market.  If you have not already spoken to a lender, you cannot even finish page 1 of the offer. This will delay the process 24 to 48 hours depending on the lender and how fast the buyer can provide the lender with information. Once that aspect is complete, you can finish filling out paragraph 3.

    Paragraph 3A names how much to offer for the initial deposit. Most agents will advise the buyer to offer 1-3% of the purchase price. The more you offer; the more serious the seller will think the buyer is.  In this contract the buyers are offering 2% of the purchase price or $10,000.  3A (1) dictates how this money will be sent to escrow once the offer is accepted. If no boxes are checked the buyer will deliver to escrow the check within three days of acceptance. 3B is very rarely used. It is usually only used if the initial deposit in 3A is a small amount. 3C is the first loan usually 80% of the purchase price, but there are many lending programs out there, the loan officer will find the one that fits your needs best. It is important to fill in that the rate shall not exceed a certain APR. This gives the buyer a little more security when making the offer. The number should be above the current rate. If the buyer is need of down payment assistance the second loan section will be used. If the buyer is using FHA or VA financing they must fill in section (3). 3D would be the place to ask for closing costs, making an all cash offer or any unusual financing terms. 3E names the down payment or remaining balance that must be sent into escrow near the end of escrow. 3F names the total amount offered for the home.

    At the bottom of the page there is a place for the both buyer and seller to initial. The buyer must initial before presenting the offer to the seller.

    This is just the first page of an offer, but it is one of the most important ones. Please feel free to contact me if you have any questions about putting an offer in on a home.

    Jessie Eide is a Realtor at EXIT Realty Foothills specializing in the Claremont community and helping people invest in Real Estate all along the foothills. For more information call 626.523.1822 or visit her website at www.SimplyYourRealEstate.com to have free access to the most comprehensive MLS Listing Service.

  • Claremont Real Estate Update

    Posted Under: General Area in Claremont, Home Buying in Claremont, Home Selling in Claremont  |  September 23, 2013 2:34 PM  |  260 views  |  No comments

    Dana Ct, Claremont

    CLAREMONT REAL ESTATE UPDATE

    FROM AUG 22- SEPT 22

    Total Active Residential Listings

    72

    Average List Price

    $906,000

    Average Market Time

    83 Days on Market

    Average List Price Vs Sale Price

    97%

    Average List Vs Sale Price From Last Year

    97%

    Number Of Sales Year To Date

    279

    Last Year’s Sales To Sept 22

    253

    Average Sale Price

    $642,00

    Average Sale Price Last Year Same Period

    $454,000

    30 Year Fixed Rate

    4.4%


    As of September 22 there were 72 active residential listings in Claremont. The Average list price was$906,000 spanning $225,000 - $3,825,000. On average homes sold in 83 days for 97% of the list price, the same percentage as last year at the same time. From January to September 22, 279 residential listings sold which were 26 more listings sold from the same period last year. The average sale price was $642,000 for the last month which is $188,000 more than the same month last year. We also see a slight drop in interest rates from last month. This data is very positive for Claremont Real Estate!

    Jessie Eide is a Realtor at EXIT Realty Foothills specializing in the Claremont community and helping people invest in Real Estate all along the foothills. For more information call 626.523.1822 or visit her website at www.SimplyYourRealEstate.com to have free access to the most comprehensive MLS Listing Service.

  • 8 Things You Must Update before Selling Your Home

    Posted Under: Home Selling in Claremont, Remodel & Renovate in Claremont, Design & Decor in Claremont  |  September 12, 2013 1:07 PM  |  342 views  |  2 comments

    Every era has its share of questionable décor. Some of them send potential buyers and running while other will just ding the price. When you are thinking about selling your “need-to-be-updated” home, there is always the age old question of “should I update my home or should I just lower the price.” If you are looking to sell your home fast, it might be tempting to just lower the price but if you have any of the following 8 décor items, take the time to do some updating.

    1.    Shag Carpeting.  Buyers do not want to see shag carpeting. Most will recoil if they see this design feature.

    2.    Popcorn Ceilings. Back in the 50’s through the 80’s this was a very popular feature. It was done to reduce noise levels, but today people just see this as a mess they would have to deal with. Some of the earliest versions would have asbestos fibers, which could also be dangerous.

    3.    Colorful Sinks and Toilets.  Bathtubs could also be added into this category but most tubs can be covered by a shower curtain. The toilets and sinks are front and center and is a big determent.

    4.    Big Floral or Metallic Wallpaper.  Wallpaper of any kind can be problematic because it is so messy to take down and if the potential buyers do not like the wallpaper it can send them running. The big floral and metallic wallpaper are among the biggest offenders.

    5.    Carpeted Bathrooms.  Carpet can retain water and grow mildew. Most buyers are looking for bathrooms that are not carpeted.

    6.    Wood Paneling.  Buyers today find this décor very dark and hard to deal with. It is very difficult to remove and will in general send potential buyers running.

    7.    Sliding-Plastic Door for the Shower/Tub.  Most of the time these doors are full of water and soap scum. They are impractical and make bathrooms look smaller. They are inconvenient for new parents who need to lean over the tub to give children a bath and very difficult for seniors to get in and out.

    8.    Floor to Ceiling Mirrors.  This doesn’t mean a hug mirror that is hung with a frame is not a nice item to decorate the home with. This is the glued to the wall huge wall-to-wall ceiling to floor mirrors. They are just tacky and need to be changed.

    Of course this list could be expanded on, but these particular décor items should be updated before putting your home on the market. What other things do you think must be updated?

    Jessie Eide is a Realtor at EXIT Realty Foothills specializing in the Claremont community and helping people invest in Real Estate all along the foothills. For more information call 626.523.1822 or visit her website at www.SimplyYourRealEstate.com to have free access to the most comprehensive MLS Listing Service.

  • Weekly Update on Claremont Real Estate!

    Posted Under: General Area in Claremont, Home Buying in Claremont, Home Selling in Claremont  |  March 14, 2013 4:47 PM  |  290 views  |  No comments

    Jessie Eide is a Realtor at EXIT Realty Foothills specializing in the Claremont community and helping people invest in Real Estate all along the foothills. For more information call 626.523.1822 or visit her website at www.SimplyYourRealEstate.com to have free access to the most comprehensive MLS Listing Service.

  • Claremont Community: Wolfe's Market!

    Posted Under: Quality of Life in Claremont, Shopping & Local Amenities in Claremont, In My Neighborhood in Claremont  |  February 14, 2013 12:28 PM  |  350 views  |  No comments
    Claremont California is a city rich with history. Much of the community you see today is because of the careful planning and planting of the city’s founders. That is just what you see when shopping at Wolfe's Market. Wolfe's Market is a family owned and operated specialty grocery store and catering business, located in Claremont.

    The quality produce, full service deli and meat department, and take-out lunches and dinners are well known to the Claremont community. But there is another little gem hidden inside too. His name is George. You can find him there after 2pm most days. He has been studying wines for years and can help you find the perfect wine for any occasion at the right price. He is even helps people stock their wine collection by searching everywhere for the perfect bottle. Stop by and say hello.

    The Wolfe’s are also making a few minor changes so that you can stay and eat at the deli. Keep your eye out for it. It should be very useful little remodel for the college student, meeting a friend for lunch, or anyone on the go! Wolfe's Market is located at 160 W. Foothill Blvd. www.wolfesmarket.com.

    Jessie Eide is a Realtor at EXIT Realty Foothills specializing in the Claremont community and helping people invest in Real Estate all along the foothills. For more information call 626.523.1822 or visit her website at www.SimplyYourRealEstate.com to have free access to the most comprehensive MLS Listing Service.


  • Weekly Update on Claremont Real Estate!

    Posted Under: General Area in Claremont, Home Buying in Claremont, Home Selling in Claremont  |  February 6, 2013 9:39 PM  |  304 views  |  No comments

    Jessie Eide is a Realtor at EXIT Realty Foothills specializing in the Claremont community and helping people invest in Real Estate all along the foothills. For more information call 626.523.1822 or visit her website at www.SimplyYourRealEstate.com to have free access to the most comprehensive MLS Listing Service.

  • Weekly Update on Claremont Real Estate!

    Posted Under: Market Conditions in Claremont, Home Buying in Claremont, Home Selling in Claremont  |  January 30, 2013 4:00 PM  |  331 views  |  No comments


    This week we see more listings than we did two weeks ago, but inventory is still very LOW. The average time a listing has been on the market has dropped. We also see a jump in the interest rate.

    Jessie Eide is a Realtor at EXIT Realty Foothills specializing in the Claremont community and helping people invest in Real Estate all along the foothills. For more information call 626.523.1822 or visit her website at www.SimplyYourRealEstate.com to have free access to the most comprehensive MLS Listing Service.

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